Qatar reveals further investment of $3bn in Pakistan

The funding takes Qatar’s total investments in Pakistan to $9bn.

Emir of Qatar Sheikh Tamim bin Hamad Al Thani in Pakistan
Qatar's Emir, Sheikh Tamim bin Hamad Al Thani, met Pakistani Prime Minister Imran Khan in Islamabad [File: Press Information Department/AP]

Qatar will make a further investment of $3bn in Pakistan, it has been revealed.

Doha’s cash injection brings the Gulf state’s total Pakistani investment to $9bn.

“Want to thank the Emir of Qatar HRH Sheikh Tamim Bin Hamad Al Thani for announcing US $3 Billion in #deposits and direct #investments for #Pakistan and for #Qatar’s affirmation to further develop relations between the two countries,” Abdul Hafeez Shaikh, the Pakistani prime minister’s adviser on finance, posted on Twitter on Monday morning.

The funding follows the Qatari emir’s visit to Pakistan, and comes as an endorsement of Prime Minister Imran Khan’s adminstration, said Doha’s Ministry of Foreign Affairs.

“People in Pakistan are struggling to afford the basics, as inflation reaches its highest level in five years,” said Al Jazeera’s Osama Bin Javaid, reporting from Islamabad.

Pakistan has signed agreements with various nations, including China and Saudi Arabia, but still needed a $6bn bailout package provided by the International Monetary Fund (IMF). The loan comes with conditions, such as restricting public spending.

The recent visit of top-level Qatari diplomats and leaders to Islamabad saw deals reached for cooperation in aviation, maritime affairs, higher education, and defence and defence production, Pakistan’s GeoTV reported. 

Source: Al Jazeera, News Agencies